World Bank chief sees multi-speed recovery globally

World Bank President Robert Zoellick gestures while speaking at the Asia Society's annual dinner in Sydney last Aug. 14. The World Bank will recommend reforms to China's domestic financial system as part of broader proposals to help wean the country from a dependence on exports to sustain economic growth, Zoellick said on Saturday. Photo: Reuters

The world is going through a multi-speed recovery, World Bank Chief Robert Zoellick said on Sunday.

Zoellick, who was speaking at the Asia Society's annual dinner in Sydney, was asked about his assessment of the U.S. economy.

About half of global growth comes from emerging markets which face different challenges, such as economy overheating and inflationary pressures, he added.